Delta Pilots
To Vote on Deal
That Reduces Pay

By

Evan Perez

Updated April 24, 2006 12:01 a.m. ET

Delta Air Lines pilots will hold a ratification vote next month on a proposed contract that would extend a 14% pay cut made in December but give them a $2.1 billion claim that would convert to a still-to-be-determined stake in the carrier when it emerges from bankruptcy.

The governing committee of the Air Line Pilots Association unit at Delta agreed by a 12-to-1 vote late Friday to endorse a tentative contract deal reached April 14 that averted for now a potentially catastrophic strike at the third-largest U.S. carrier as...